The Commercial Bank of Ethiopia (CBE) earned US$ 1.1 billion from export trade in the 2012/13 fiscal year, according to The Reporter.

Ephrem Mekuria, communication manager with CBE, told The Reporter that the bank earned a total of US$ 5.8 billion from international banking department (IBD) in the budget year. Ephrem said exporters brought US$ 1.1 billion from the export and the remaining amount was earned from remittance and other transactions.

The bank recognized the exporters’ performance in the fiscal year during an event held at the Sheraton Addis last Thursday.

CBE awarded different prizes for its 152 customers who earned more than one million dollars under six categories. Certificates, silver plates, and trophies were awarded to the exporters and money transfer companies.

Coffee, leather, oil seed and gold exporters were among the top performers. Four companies -Belayneh Kinde Import and Export, Adem Kedir Hora Trading, Warka Plc and Ethiopian Grain Trade Enterprise were among the winners.

MIDROC Gold, which exported more than US$100 million worth of gold and Western Union which transferred more than US$ 300 million were special prize winners.

Bekalu Zeleke, president of CBE, and Bereket Simon, board chairman, congratulated the exporters for there remarkable performances.

Source: The Reporter